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ÁKK sells HUF 20 bln of 3-month T-bills at auction, as planned

The Government Debt Management Agency (ÁKK) sold HUF 20 billion of discount three-month T-bills at auction on Tuesday, in line with the original offer. according to a report by state news wire MTI.

Primary dealers bid for HUF 44.6 bln of the securities.

The average yield was 0.31%, 12 bp over the secondary market benchmark, but 18 bp under the yield at the previous auction of the bills one week earlier.

Hours after the previous auction, National Bank of Hungary (MNB) policymakers announced a 15 bp base rate cut.